RetiredPublicEmployees'AssociationofCaliforniaDemandsFiscalAccountability
Inalandmarkmovetofinanceaforensicinvestigationof CalPERS investment and management practices, the Retired Public Employees' Association of California launched acrowdfundingeffortintothenation'slargestpublic employee retirement system.
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“CalPERS is underfunded, which is dangerous. This sends a clear message that our financial futures are not negotiable.”
“Fortoolong,questionableinvestmentdecisionsandexcessivemanagementfeeshave raisedredïeagswithoutsufficientaccountability,”statedRPEAPresidentMargaretBrown. “Thisisanecessary actionexposingpossiblewrongdoing,encouragingreform,and protectingourretirementbenefitsfromirresponsibleactions,”Brownsaid.
RPEA'sadvocacy andpressurethroughitsmembershipandthepublichascaused CalPERStomakemeaningful coursecorrectionsinthepast.RPEA'sgoalwiththis investigationistocompelareduction ofinvestmentfees,curtailexposuretohigh-risk assets,andincrease transparencyofCalPERSoperations.
“Ourgoalisnottocriticizebuttocatalyzereform,”saidJ.J.Jelincic,formerCalPERSBoard MemberandRPEAHealthBenefitsDirector.”CalPERSisunderfunded,whichisdangerous. Thisactionsends aclearmessagethatourfinancialfutures arenotnegotiable.”
RPEAbelievesCalPERSowesaccountabilitytoits2.3millionmembersandcanbolster reformforotherretirement systems.ToseetheNBCbreaking storyaboutRPEA's crowdfundinginitiative,visittheRPEAwebsite(https://www.rpea.com/).Youmaydonateto theinitiativeatthewebsite orvisit: https://gofund.me/74000e82
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SOURCE Retired Public Employees' Association of California
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